FINANCE 379 – Problem 4.35 Recreational Supplies Co. has net sales

Problem 4.35Recreational Supplies Co. has net sales of $11,655,000, an ROE of 17.64 percent, and a total asset turnover of 2.89 times. If the firm has a debt-to-equity ratio of 1.43, what is the company’s net income? (Round intermediate calculations to 2 decimals, e.g. 12.25 and final answer to 2 decimal places , e.g. 12.25.)The company’s net income$

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